Steno Signals #126: Disentangling the ECB Schnabel Speech – How Will QT Develop from Here?
We’re at a critical juncture in sovereign bond markets, with liquidity running razor-thin and the game changing fast. German Bunds, traditionally...
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Steno Signals #125: EUR Liquidity Overtakes USD Liquidity – A Historic Shift
Happy Sunday from Copenhagen. Bear with me this week through this long read as we approach an extremely interesting crossroads in sovereign bond...
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Crypto Moves #51 – Trump’s Win: A Game Changer for Crypto
This Tuesday, the U.S. electorate reelected Donald Trump as the 47th President of the United States. We—and surely the market as a whole—have...
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Germany on the Brink: Political Chaos, Economic Stagnation, and European Swap Spreads
Another election on the horizon… in Germany? Let’s unpack what’s brewing and driving the move in Bunds. Chancellor Scholz dismissed Finance...
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China/Germany Flash Watch: How will China navigate the Trump victory?
Wow! What a day in the markets with the Trump trade roaring in the FX space, bond space, and equity space. Buying U.S.-based equities in spread...
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